CacheTech Inc. Lowers Stake in Eli Lilly and Company (NYSE:LLY)

CacheTech Inc. cut its position in Eli Lilly and Company (NYSE:LLY) by 22.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 350 shares of the company’s stock after selling 104 shares during the period. CacheTech Inc.’s holdings in Eli Lilly and Company were worth $271,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new position in shares of Eli Lilly and Company in the fourth quarter valued at about $8,407,908,000. Proficio Capital Partners LLC lifted its holdings in Eli Lilly and Company by 100,387.1% in the 4th quarter. Proficio Capital Partners LLC now owns 5,202,215 shares of the company’s stock worth $4,016,110,000 after purchasing an additional 5,197,038 shares in the last quarter. Wellington Management Group LLP boosted its stake in Eli Lilly and Company by 19.0% in the 4th quarter. Wellington Management Group LLP now owns 12,625,925 shares of the company’s stock worth $9,747,214,000 after purchasing an additional 2,012,129 shares during the period. Raymond James Financial Inc. bought a new position in Eli Lilly and Company in the 4th quarter worth approximately $1,240,653,000. Finally, Parnassus Investments LLC grew its holdings in Eli Lilly and Company by 38,959.8% during the 4th quarter. Parnassus Investments LLC now owns 934,702 shares of the company’s stock valued at $721,590,000 after buying an additional 932,309 shares in the last quarter. 82.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on LLY shares. Morgan Stanley dropped their target price on shares of Eli Lilly and Company from $1,146.00 to $1,124.00 and set an “overweight” rating for the company in a research report on Wednesday, April 9th. Citigroup dropped their price objective on shares of Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating for the company in a report on Tuesday, January 28th. Truist Financial raised their price objective on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Leerink Partners set a $950.00 target price on Eli Lilly and Company in a research report on Friday, January 17th. Finally, The Goldman Sachs Group upgraded Eli Lilly and Company from a “neutral” rating to a “buy” rating and cut their price target for the company from $892.00 to $888.00 in a report on Tuesday, April 8th. Two equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $1,012.00.

Eli Lilly and Company Trading Up 2.9 %

Shares of LLY opened at $753.54 on Tuesday. The company’s fifty day simple moving average is $835.24 and its 200-day simple moving average is $822.00. The company has a market cap of $714.48 billion, a P/E ratio of 64.35, a P/E/G ratio of 1.40 and a beta of 0.51. The company has a current ratio of 1.15, a quick ratio of 0.97 and a debt-to-equity ratio of 2.00. Eli Lilly and Company has a twelve month low of $677.09 and a twelve month high of $972.53.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data on Thursday, February 6th. The company reported $5.32 earnings per share for the quarter, missing analysts’ consensus estimates of $5.45 by ($0.13). Eli Lilly and Company had a return on equity of 85.24% and a net margin of 23.51%. As a group, analysts expect that Eli Lilly and Company will post 23.48 EPS for the current year.

Insider Transactions at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 1,000 shares of the business’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $818.24, for a total transaction of $818,240.00. Following the completion of the sale, the chief accounting officer now directly owns 5,840 shares of the company’s stock, valued at approximately $4,778,521.60. The trade was a 14.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.13% of the company’s stock.

About Eli Lilly and Company

Eli Lilly and Company discovers, develops, and markets human pharmaceuticals worldwide. The company offers Basaglar, Humalog, Humalog Mix 75/25, Humalog U-100, Humalog U-200, Humalog Mix 50/50, insulin lispro, insulin lispro protamine, insulin lispro mix 75/25, Humulin, Humulin 70/30, Humulin N, Humulin R, and Humulin U-500 for diabetes; Jardiance, Mounjaro, and Trulicity for type 2 diabetes; and Zepbound for obesity.